Separately, Shell has agreed long-term charters for four new LNG dual-fuel oil products tankers, from institutional investors advised by J.P. Morgan Asset Management, with delivery of the vessels expected from 2021.

“LNG is already a commercially competitive way to reduce emissions from ships, including those delivering oil to our customers,” Mark Quartermain, Shell’s Vice President for Crude Trading and Supply, said.

The International Maritime Organization has set an ambition to reduce total annual greenhouse gas emissions from shipping by at least 50% by 2050, compared to 2008. Compared to some marine fuels, LNG can cut greenhouse gas emissions from ships by up to 21%, Shell cited a “well-to-wake” emissions study by consultants Thinkstep.